Ekurhuleni Metropolitan Municipality evaluators have commenced with the work of valuing properties in order to inform the new Valuation Roll.
Ekurhuleni Metropolitan Municipality evaluators have commenced with the work of valuating properties in order to inform the new Valuation Roll.
The current one expires in June 2013 says Sam Modiba, the Metro’s spokesperson.
Modiba explains that a General Valuation roll (GV) process is the valuation of all properties in the municipality to generate rates on an equitable basis.
The valuation capturing process has begun in earnest following the data collection process that started in November last year.
In Ekurhuleni the date of valuation at which all property values is fixed is 1 July 2012.
“The values must reflect the market value of the properties in accordance with the market conditions which applied at this date (1 July),” says Modiba.
The 2013 valuation roll must be handed by the appointed Municipal Valuer (eValuations) to the Municipal Manager by 1 February 2013 and the roll will be valid from 1 July 2013 to 30 June 2017, he says.
Modiba points out that the general valuation of all properties is in compliance with the Municipality Property Rates Act, which requires that a valuation roll of properties be compiled in terms of the market conditions which applied on 1 July 2012.
Modiba says there are several types of properties in the municipality – residential, sectional title, non-residential and agriculture.
“Each is valued on a different basis, although they all relate to the market value.”
As an example, he says a residential property (including sectional titles) is valued on a comparable sales method.
Most commercial property (including retail, offices, warehousing) are valued on an income basis, while institutional properties such as schools, hospitals and clinics are valued on a cost basis.
Residents will know the outcomes of the valuation process between February and March 2013.
Modiba points out that the general valuation of all properties is in compliance with the Municipality Property Rates Act, which requires that a valuation roll of properties be compiled in terms of the market conditions which applied on 1 July 2012.
During this period, the valuation will be published and open for inspection.
The roll will be published in the municipal website, at libraries and customer care areas and letters will be sent to all property owners informing them of the results.
In cases where property values have declined, Modiba indicates that the process does take that into account.
“When valuing the properties, the Municipal Valuer establishes the market conditions, and this is based on recent sales activity in the various areas and sectors.”
Therefore, this will take into consideration areas where values have declined or remained stagnant due to the current state of the economy.
Market conditions as on 1 July 2012 will form the basis of valuation, he explains.
Data collectors will always have their identity cards with them as they visit properties in the region.
They also have a letter of delegation authorised by the City Manager.
Where possible, they will be travelling in a company branded vehicle.
Should there be a need for people to check the identity of the data capturers they can always verify this at the following number 011999 4383/3504/3575/3561/3580.